Ethereum update: Nanopool is less efficient than other pools!
**TL;DR : Nanopool is 10% less efficient than the other 4 big pools.**
**EDIT** : I am not trying to harm nanopool. I just shared my math and opinion. I’ve used nanopool for over 9 months. I hope they also realize this situation and work on a fix. I’ve also contacted them via mail.
So today I saw a post and the guy was asking “why people still mine on nanopool while they are finding the most uncles”.
**Original post :** https://www.reddit.com/r/EtherMining/comments/8pc6wj/why_does_anyone_mine_at_nanopool_doesent_their/
I have read the people’s opinions and decided to check the stats, do the math myself to see if there is a relation and how efficient the biggest pools are. So, here is my detailed calculation results :
4 big pools, Ethermine, f2pool_2, Sparkpool and MiningPoolHub are ALMOST equally efficient.
However, Nanopool is 10% less efficient than these 4 pools, and which is really a huge problem IMO.
People who are using Nanopool should try other pools and see if they make more on these pools.
Of course, everyone is free to choose wherever they want to mine. I am just a guy who likes math and statistics and this is only my opinion about pool choice.
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More calculations for people who like to read.
For the last 7 days total mined blocks : 39405
* Ethermine 10662 – 27%
* f2pool_2 6697 – 17%
* Sparkpool 6546 – 16.6%
* Nanopool 5075 – 12.9%
* MiningPoolHub 4095 – 10.4%
* Nanopool 2784 – 7%
* Ethermine 2245 – 5.7%
* f2pool_2 1571 – 4%
* SparkPool 1090 – 2.7%
* MiningPoolHub 663 – 1.7%
Now, I don’t have data for hashrates on last 7 days, but I’ll use 24h data, which will be okay on this calculations since it corrects the 7 days statistics.
**Last 24H Hashrates (Which I think would not differ in huge rates for 7 days time span)**
* Ethermine 70.22 TH/s – 26.3%
* f2pool_2 43.61 TH/s – 16.4%
* Nanopool 41.07 TH/s – 15.4%
* Sparkpool 38.81 TH/s – 14.6 %
* MiningPoolHub 25.65 TH/s – 9.6 %
So now, according to the statistics, **ON AVERAGE**, finding an uncle would be rewarding the pool 2.3 ETH, and finding a block will have a reward 3.15 ETH
*Allright, time for some math :)*
Ethermine found 10662 blocks, 33585 ETH. Also 2245 uncles, 5164 ETH from there, TOTAL = 38.749 ETH in last 7 days
Now, lets calculate how many ETH they make per TH/s. 38749/70.22 = would give us 551.82 ETH reward per TH/s pool has, for a week.
I will not write other pools detailed, just leaving you guys with numbers here;
* Ethermine => 38749 ETH reward in 1 week => 551.82 ETH per TH/s
* f2pool_2 => 24709 ETH reward in 1 week => 566.58 ETH per TH/s
* Nanopool => 22389 ETH reward in 1 week => 545.15 ETH per TH/s
* Sparkpool => 23127 ETH reward in 1 week => 595.90 ETH per TH/s
* MiningPoolHub => 13324 ETH reward in 1 week => 562.34 ETH per TH/s
If we put these pools in order, we see that;
1) Sparkpool — 595.90 ETH per TH/s
2) f2pool_2 — 566.58 ETH per TH/s
3) MiningPoolHub — 562.34 ETH per TH/s
4) Ethermine — 551.82 ETH per TH/s
5) Nanopool — 545.15 ETH per TH/s
**BUT** these are only based on statistics that I could find online. There is a huge difference between sparkpool and nanopool. Sparkpool seems almost 10% more profitable. However, it is because the data I used was not exactly correct.
**Sparkpool** reports their hashrate higher than the info I found, so, sparkpool’s real number could be = 568.37 ETH per TH/s by using the hashrate data from the pool.
Also using Ethermine’s reported hashrate data, we get an estimated number of = 569.83 ETH per TH/s.
I couldn’t find any data on f2pool since it’s chinese, I didn’t understand a thing.
Again, MiningPoolHub’s data is almost exact, so no change needed,
Aaand, finally, Nanopool reports 43 TH/s, actually more than we used in calculations, so if Nanopool would be calculated again, it would be 520.67 ETH per TH/s
Allright allright, it’s ending now. A little more info and I’m done.
**So, according to all these calculations and statistics, we are seeing that;**
* Ethermine makes 569.83 ETH per TH/s
* f2pool_2 makes 566.58 ETH per TH/s
* Sparkpool makes 568.37 ETH per TH/s
* MiningPoolHub makes 562.34 ETH per TH/s
So, 4 biggest pools are working **ALMOST** at same efficiency level. The biggest difference is between Ethermine and MiningPoolHub and it’s **only 1% difference** in efficiency. When you consider everything, 1% efficiency difference is not important, plus we might have used old data for MiningPoolHub, so maybe in reality, it’s less than 1%
**Okay, this time seriously ending, **
You saw how 4 big pools are ALMOST working at same efficiency, BUT, there is one more pool, which is the subject of our topic : NANOPOOL
Nanopool makes **520.67 ETH per TH/s**. No where near the other 4 big pools. Actually, **it differs around 8-10% from the other big pools**. Which is a HUGE problem IMO.
You saw, I used maybe obsolete, maybe little off numbers, but at the end, 4 pools ended up almost getting same number, while Nanopool is 8-10% off from those numbers. Do you think coincidence? I think no, but you are the one to decide 🙂
For curious people, here is the references :
Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third-party interference.
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